Wall Street brokerages forecast that Silvercrest Asset Management Group Inc. (NASDAQ:SAMG) will post $34.52 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Silvercrest Asset Management Group's earnings, with estimates ranging from $33.36 million to $35.69 million. Silvercrest Asset Management Group reported sales of $28.42 million during the same quarter last year, which indicates a positive year-over-year growth rate of 21.5%. The company is expected to issue its next earnings report on Thursday, March 3rd.
On average, analysts expect that Silvercrest Asset Management Group will report full-year sales of $132.32 million for the current financial year, with estimates ranging from $131.16 million to $133.49 million. For the next year, analysts expect that the firm will report sales of $150.10 million, with estimates ranging from $149.52 million to $150.69 million. Zacks' sales averages are an average based on a survey of research firms that follow Silvercrest Asset Management Group.
Silvercrest Asset Management Group (NASDAQ:SAMG) last announced its earnings results on Thursday, November 4th. The asset manager reported $0.44 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.01). The company had revenue of $33.46 million for the quarter, compared to the consensus estimate of $35.63 million. Silvercrest Asset Management Group had a return on equity of 22.60% and a net margin of 9.10%. During the same period in the previous year, the firm posted $0.35 EPS.
Separately, Zacks Investment Research downgraded shares of Silvercrest Asset Management Group from a "buy" rating to a "hold" rating in a report on Tuesday.
Shares of SAMG stock opened at $17.04 on Friday. The company has a market capitalization of $246.26 million, a price-to-earnings ratio of 14.32 and a beta of 0.68. The company has a 50-day simple moving average of $16.52 and a 200 day simple moving average of $16.05. Silvercrest Asset Management Group has a 52 week low of $13.17 and a 52 week high of $17.66.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 17th. Shareholders of record on Friday, December 10th were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 3.99%. The ex-dividend date of this dividend was Thursday, December 9th. Silvercrest Asset Management Group's dividend payout ratio (DPR) is 57.14%.
Institutional investors have recently modified their holdings of the business. Advisor Group Holdings Inc. raised its stake in Silvercrest Asset Management Group by 45.2% in the 2nd quarter. Advisor Group Holdings Inc. now owns 2,422 shares of the asset manager's stock worth $36,000 after purchasing an additional 754 shares in the last quarter. O Shaughnessy Asset Management LLC raised its stake in Silvercrest Asset Management Group by 407.8% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 6,317 shares of the asset manager's stock worth $98,000 after purchasing an additional 5,073 shares in the last quarter. Stifel Financial Corp acquired a new stake in Silvercrest Asset Management Group in the 2nd quarter worth about $162,000. Tibra Equities Europe Ltd acquired a new stake in Silvercrest Asset Management Group in the 2nd quarter worth about $320,000. Finally, Two Sigma Investments LP acquired a new stake in Silvercrest Asset Management Group in the 3rd quarter worth about $378,000. Institutional investors and hedge funds own 44.34% of the company's stock.
Silvercrest Asset Management Group Company Profile
Silvercrest Asset Management Group, Inc operates as a wealth management firm. The firm provides traditional and alternative investment advisory and family office services to wealthy families and select institutional investors. It also offers portfolio, equity, and fixed income management and outsourced investment services.
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